Short-Term Downside Target If Support Breaks

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
1216 8 11
Bitcoin             has been fading off from the $1,000 level
(as I mentioned many times). If price snaps $800
with strength, we could see $720 - $675 pretty quickly.
guys, feel free to ask me questions on Twitter @chrisdunntv
where do you place your stop loss?
What sort of trade should we be looking for in a situation like this?
I cannot believe it is the FED bitcoin auction news... could it be a self-fulfilled prophecy of breakdown?
CameronPoe nicolaennio
It shouldn't be the Fed news, unless a huge portion of the market misunderstands what's happening. The feds will just auction them off, they would never use an exchange to sell off anything. They always auction forfeited goods. If anything, it's good for the market because they'll probably sell them for a fraction of what they're worth in order to get rid of them quickly.
I agree, they probably wouldn't dump them all on an exchange. But if they did it would make for a great buying opportunity!
Its snapped BTC-e a few times whats those numbers in BTC-e?
chrisdunntv PRO DeanGoncalves
there's a totally separate chart for each exchange. Just look at the price areas.
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